A creative approach: Five-steps to a more effective Market Position

By Mark Wardell

Creativity is the most powerful tool you can use to make your marketing message memorable. But to use it properly it must first find its way into your marketing strategy. From here, the beginnings of a unique (ultimately unstoppable) market position can grow. To learn how to get there, read on.

1. Envision how your business could stand out in the world.
Every person is an individual; so too is a business. The world needs variety. It is up to you to discover what is (or could be) the unique value you bring to the marketplace. It is through your market positioning statement that you ultimately declare this to the world.

2. Understand why creativity is so important.
There is more to marketing than simply standing out. Awareness, by itself, is not enough. Think of all the dot.com companies that crashed, despite the millions upon millions of dollars that were spent on advertising. By itself, creativity has limited value. Pointed in the right direction, however, it can be an extremely powerful tool. So, before you hire a marketing company for your next big campaign, make sure they understand what makes your business stand out from the crowd. A good marketing company will then creatively shine the spotlight to showcase how your business is unique.

3. What Market Positioning really means.
What does the term “Market Positioning” really mean? Think about it like this: there is a continuous flow of business happening all around us. People are always buying and selling. Market Positioning is about aligning your business within this flow. Your goal is to find your place in business world around you. How do you do that? By answering this one basic question: "Why should someone buy what you are selling?” Within the answer to this seemingly simple question lies the power to shift your business into high gear like you’ve never experienced before.

4. A promise that reflects your entire business.
At its most basic level, your marketing position is a promise. It is a promise that you will fulfill your customers’ needs each and every time they do business with you. For example, you might promise to be reliable, to save them time, to save them money, or to make them look good… you fill in the blank. Whatever your promise is, it is critical that your business takes it on as its unified purpose. Marketing is not confined to one department, but rather, your market position must permeate your entire business. In other words, if marketing promises something, the rest of the company needs to deliver on that promise.

5. The three critical questions.
To identify a unique Market Position for your business ask yourself three critical questions:
What is the greatest concern/need your customers have, and how can you resolve it? What is their bottleneck? (i.e., if you sell office furniture, your customers may have old furniture that they need to get rid of.) What is the greatest complaint your customers have about your industry, and how can you fix it? What negative preconceptions do they have? (i.e., insurance people, banking hours). What problems do your clients have that no one in your industry is addressing, and how can you solve them? Take the time to consider your answers until you settle on a marketing position for your business.

Maintain a creative approach throughout this exercise, and I guarantee, once you find it, you will be unstoppable!

Mark Wardell is President & Founder of Wardell Professional Development (www.wardell.biz), an advisory group that helps business owners plan and execute the growth of their companies. The author of seven business books, Mark also writes regularly for several national business publications, including Profit Magazine, the Globe and Mail, and CGA Magazine. Email him at [email protected]

By Adam

March 14, 2011